Jacko's Forex House of Pleasure and Pain | Page 521 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #10,401
  • Feb 5, 2010 10:24am Feb 5, 2010 10:24am
Quoting artov
You never know before you actually try..........
http://www.youtube.com/watch?v=VfNbRhjy9HA
Too cute! No, I mean I would probably use it on someone!
  • #10,402
  • Feb 5, 2010 10:30am Feb 5, 2010 10:30am
Quoting james16
yes ma'am you could be right. Larry actually has an expert sentimate indicator. its the only real fundy indic ive ever seen.

when the experts are in agreement at 80 percent or larger and the "commercials" ( those that actually "use" the commodity/market) are in direct opposition he trades.

it is amazing to see what a huge percentage of the time they (the 'EXPERTS") are wrong.

following them is why so many new traders get killed over and over. all just my opinion of course. i could be wrong.

btw - all the attorneys here carry weapons....
In any case, Jim, we will be ready for whatever the market does. I don't care in which direction it goes, I just want to make money . I have no ego in the game.

Where do you live that attorneys carry weapons?
  • #10,403
  • Feb 5, 2010 10:34am Feb 5, 2010 10:34am
nice to see u james16 i started with larry and commodity timing thats how i first got my feet wet in this great business but as you know price always the key,bit silly to trade against the trend no matter what the experts say thinking it might do this it might go here the biggest killer imho
student
  • #10,404
  • Feb 5, 2010 10:39am Feb 5, 2010 10:39am
me too. im just kidding about the attorneys but the guns no.

I live in Texas where the bad people live in fear instead of the good ones.

You rob someone here or break into a house you stand a real good chance of losing your life instead of the usual 2 months in jail.



Quoting lawgirl21
In any case, Jim, we will be ready for whatever the market does. I don't care in which direction it goes, I just want to make money . I have no ego in the game.

Where do you live that attorneys carry weapons?
  • #10,405
  • Feb 5, 2010 10:43am Feb 5, 2010 10:43am
hey my friend. i noticed you earlier. nice to see you also.

yeah good old larry.

always looking for something to refine his methods and loving every minute of it.

im afflicted with the same love.

a great man imho.

jim



Quoting garrye
nice to see u james16 i started with larry and commodity timing thats how i first got my feet wet in this great business but as you know price always the key,bit silly to trade against the trend no matter what the experts say thinking it might do this it might go here the biggest killer imho
  • #10,406
  • Feb 5, 2010 10:59am Feb 5, 2010 10:59am
Quoting james16
me too. im just kidding about the attorneys but the guns no.

I live in Texas where the bad people live in fear instead of the good ones.

You rob someone here or break into a house you stand a real good chance of losing your life instead of the usual 2 months in jail.
I love Texas. I have a brother in Houston and a best friend in Georgetown. Im in CA. Here if you shoot an intruder, you better make sure he falls inside your house--even if he has to be helped a little--and be giving mouth to mouth recesitation when cops and paramedics arrive. "I did everything I could to save him, officer!" Otherwise, you go to jail. I actually had a cop tell me that.
  • #10,407
  • Feb 5, 2010 2:05pm Feb 5, 2010 2:05pm
Quoting lawgirl21
Yes, what just happened was very interesting. I had two short trades going, different entries, both with take profits at 3700. TP was hit. +72 and +32. I have hit my goal for the week. Did anyone else make money?
Yeap. 325 pips.
  • #10,408
  • Feb 5, 2010 3:26pm Feb 5, 2010 3:26pm
Quoting captmilkdud
Yeap. 325 pips.
That's wonderful, Capt. When did you enter that trade?
  • #10,409
  • Feb 6, 2010 5:52am Feb 6, 2010 5:52am
Quoting james16
chart
Dear James,

it is an honor for me to get a reply from such a bright and experienced person as you are.
I only registered to FF recently but I read most of your thread (all the 1st page recap with allthe attachments and now I am almost at page 2000). Congratulation on your humongous job.

Your answer made me thinking and I also realized how important is to stick with some basic rules, and apply them without being influenced by reading threads or other people opinions.
Most of the discussions at FF and the “Experts/Analists” you mentioned, are seeing the Euro in a downtrend but if I open the daily chart as you posted: “ the graph starts in the bottom left hand corner and ends in the top right hand corner, so the market is going UP”.
I know I am repeating some simple concepts but it is easy to get confused by so many information, reading, etc. This is why we need people like you to keep us on track.

Thanks again for your help. Appreciate it.
Ogeid
  • #10,410
  • Feb 6, 2010 8:21am Feb 6, 2010 8:21am
It ends on the bottom right hand corner if you are on H1.

It all depends on what TF you are looking at.
Attached Image (click to enlarge)
Click to Enlarge Name: h1.gif Size: 63 KB
Starting to see instead of just looking.
  • #10,411
  • Feb 6, 2010 1:40pm Feb 6, 2010 1:40pm
Quoting Rastaman
It ends on the bottom right hand corner if you are on H1.

It all depends on what TF you are looking at.
unless you are daytrading, define trend on longer tf, at least daily or 4h, especially if you are following jacko
  • #10,412
  • Feb 6, 2010 4:31pm Feb 6, 2010 4:31pm
Quoting kon5t
unless you are daytrading, define trend on longer tf, at least daily or 4h, especially if you are following jacko
I do agree with defining the trend on the larger timeframes however I believe jacko actually says to trade the trend showing on the timeframe you are trading
  • #10,413
  • Feb 6, 2010 5:46pm Feb 6, 2010 5:46pm
If looking at 4H with minimum of 300 candles, it's showing a downtrend, when looked at on Daily, it's showing an uptrend, so yup, just depends on which TF you trade on. For me, it'll depend on what happens at the 1.3482 area if price drops a bit further, if bounces off here, we might resume the uptrend, if breaks, we might have some more downward movement still.
  • #10,414
  • Feb 7, 2010 1:08am Feb 7, 2010 1:08am
Quoting Rastaman
It ends on the bottom right hand corner if you are on H1.

It all depends on what TF you are looking at.
yes it is true, but but under 4 hrs you are mostly trading noise and all the price reversal patterns are less significant.
The definition of trend itself becomes questionable.
Cheers
Ogeid
  • #10,415
  • Feb 7, 2010 2:17am Feb 7, 2010 2:17am
Quoting ogeid
yes it is true, but but under 4 hrs you are mostly trading noise and all the price reversal patterns are less significant.
The definition of trend itself becomes questionable.
Cheers
Ogeid

True, but Jacko doesn't trade reversals.
  • #10,416
  • Feb 7, 2010 4:59am Feb 7, 2010 4:59am
My read on Euro trend.
  • #10,417
  • Feb 7, 2010 5:11am Feb 7, 2010 5:11am
Daily T/L tested on dec 4th. Change of trend confirmed on lower low and lower high dec 22nd/jan 13th. May retrace to 1.4189 and continue south. At present nothing is stopping this run down. Next major at1.3400
  • #10,418
  • Feb 7, 2010 7:33am Feb 7, 2010 7:33am
Before we all jump in to the down trend it is worth noting that the 50% fib of the move from 01.03.09 (1.2451) to 22.11.09 (1.5143) is at 1.3800. The current low is 1.3580 if price returns to 1.38 area and hangs about there it could be a sign that this is a correction rather than a trend change.

Having said that my bias is short and i would like to see a retrace above 1.38 to give a good entry but lets not forget there is no sure thing in forex.
Dance with the market .. I have two left feet
  • #10,419
  • Feb 7, 2010 9:05am Feb 7, 2010 9:05am
Quoting lawgirl21
That's wonderful, Capt. When did you enter that trade?
I got in on Jacko's CT trade at 1.3949 for my first entry.

Price seemed to confirm that 1.3950 was not going to hold as resistance, so I added another position at a little bit better price of 1.3940.

Liked what I was seeing and opened another at 1.3949

When price broke 1.4000 convincingly I opened up a fourth position at 1.4016.

Then I saw a pinbar/shooting star on the H1 at 1.4026 which sent up a red flag and exited all positions at 1.4005.

I then did an about-face and sold at 1.3992 and rode it all the way down to 1.3727 where a hammer started to form so I slapped on a 40 pip SL and was stopped out at 1.3769.

Trade 1: 1.4005-1.3949= +56
Trade 2: 1.4005-1.3940= +65
Trade 3: 1.4005-1.3949= +56
Trade 4: 1.4016-1.4005= -11
Trade 5: 1.3992-1.3769= +223
-------------------------------
Total= 389 pips

The 325 pip number was the total for the month starting on Feb 2 and I had a loss on a dumb AUD/CAD trade that knocked my pip total down to 325. I hadn't taken that in to account.
  • #10,420
  • Feb 7, 2010 11:37am Feb 7, 2010 11:37am
Quoting captmilkdud
I got in on Jacko's CT trade at 1.3949 for my first entry.

Price seemed to confirm that 1.3950 was not going to hold as resistance, so I added another position at a little bit better price of 1.3940.

Liked what I was seeing and opened another at 1.3949

When price broke 1.4000 convincingly I opened up a fourth position at 1.4016.

Then I saw a pinbar/shooting star on the H1 at 1.4026 which sent up a red flag and exited all positions at 1.4005.

I then did an about-face and sold at 1.3992 and rode it all the way down to 1.3727 where a hammer...
You were trading long until you sold at 1.3992? I am not privy to Jacko's countertrend trade, so I am assuming his CT was going long. Are you managing your trades from an H4 chart? I like your trading style...much like mine.

I like to "stack" my entries and exits too.
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